Tag Archives: consumer credit legislation amendment

ILN Today Post

New Hardship regime to commence on 1 March 2013

On 18 September 2012, the Consumer Credit Legislation Amendment (Enhancements) Act 2012 (Enhancement Act) received assent.

The Enhancement Act amends the National Credit Code to change:

1.  the way that borrowers can apply for hardship relief and postponement of
enforcement action; and

2.  the steps that a lender must follow in responding to a request for hardship
relief or postponement of enforcement action. More…

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